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Gold/Mining/Energy : Nuinsco Resources (NWI)
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To: 4TNiner who wrote (3527)4/24/1999 9:29:00 AM
From: Midas  Read Replies (1) of 5821
 
4TNiner:

Your last few posts deserve some comments.

(1) The third drill has been on stand by on the property since early March when the current program started. NO NEW DRILL HAS BEEN BROUGHT ONTO THE PROPERTY IN THE LAST WEEK!

(2) Increased activity in the camp reflects the third drill being mobilized which in turn may be a move to make up for various delays such as slow completion of geophysical surveys, bad weather, and the usual problems associated with starting up an exploration program. The third drill was activated by the company to get to the outlying target areas. One reason for doing this is to develop a second exploration zone (if possible), in case results from the first do not pan out. Another reason for the increase in activity is that within a few weeks spring breakup will probably force suspension of the drilling program for up to a month.

(3) As of Thursday at ~5 pm, the deepest holes were being drilled to between 300 and 500 m.

(4) Why would you say the little guys are jumping in? It looks to me like many of the little guys were being taken out by the usual month end crunch.

(5) NWI has been keeping both Falconbridge and Inco posted on their progress to date, because it makes sense to be on good terms with the owners of the two nearest smelters.

(6) The land acquisition was not a spur of the moment decision but one that was planned very shortly after the discovery was made and took a long time to complete because Hydro Quebec had to grant permission to stake the claims. Additionally, the only cash outlay for purchasing the claims was "approximately $60,000" for staking the claims.

Midas
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